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Stock-Based Compensation (Tables) | 12 Months Ended
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May 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Pre-Tax Compensation Expense and Related Tax Benefits | Excluding fully vested and non-forfeitable deferred stock units described under "Director Fees and Director Deferred Compensation Plan" below, pre-tax compensation expense and the related income tax benefit for all types of stock-based programs were as follows for the periods indicated:
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Employee stock purchase program | $ | 0.5 |  |  | $ | 0.5 |  |  | $ | 0.5 |
Stock options | 3.5 |  |  | 7.7 |  |  | 5.7 |
Restricted stock units | 22.6 |  |  | 8.7 |  |  | 9.4 |
Performance share units | 5.2 |  |  | 3.4 |  |  | 3.5 |
Restricted stock awards | — |  |  | 0.3 |  |  | 1.1 |
Total | $ | 31.8 |  |  | $ | 20.6 |  |  | $ | 20.2 |
Tax benefit | $ | 7.7 |  |  | $ | 5.0 |  |  | $ | 4.9 |
Schedule of Fair Value of Employee Stock Options | In determining these values, the following weighted-average assumptions were used for the options granted during the fiscal years indicated:
|  | 2025 |  |  | 2024 |  | 2023
Valuation Method |  | Black-Scholes |  |  | Black-Scholes |  | Hull-White I(1) | Black-Scholes
Risk-free interest rates (2) |  | 4.53% |  |  | 3.76% to 3.94% |  | 2.91% | 3.01 | %
Hull-White I barrier(3) |  | N/A |  |  | N/A |  | 1.36 | N/A
Expected term of options (4) |  | 5.3 years |  |  | 4.9 years |  | N/A | 3.4 years
Expected volatility (5) |  | 50.33% |  |  | 49.33% to 50.26% |  | 37.09% | 51.58 | %
Dividend yield (6) |  | 3.13% |  |  | 2.90% to 4.79% |  | 2.52 | % | 2.50 | %
Weighted-average grant-date fair value of stock options: |  |  |  |  |  |  |  |
Granted with exercise prices equal to the fair market value of the stock on the date of grant |  | $ | 8.48 |  |  |  | $ | 9.61 |  | N/A | $ | 9.43
Granted with exercise prices greater than the fair market value of the stock on the date of grant |  | N/A |  |  | $ | 4.94 |  | $ | 5.74 | N/A
(1) A conservative post-vest cancel rate of 0.00% was applied under the assumption that the options will be exercised. (2) Represents term-matched, zero-coupon risk-free rate from the Treasury Constant Maturity yield curve, continuously compounded. (3) Represents historical average of Section 16 Officers in-the-money exercise ratio from Company’s historical data through May 27, 2022. (4) Represents historical settlement data, using midpoint scenario with 1-year grant date filter assumption for outstanding options. (5) The blended volatility approach was used. 90% term-matched historical volatility from daily stock prices and 10% weighted average implied volatility from the 30 days preceding the grant date for fiscal 2025 and the 90 days preceding the grant date for fiscal 2024 and 2023. (6) Represents the quarterly dividend divided by the three-month average stock price as of January 13, 2025, July 14, 2023, January 12, 2024 and July 7 and 12, 2022, for 2025, 2024, and 2023, respectively.
Schedule of Stock Option Plan Transactions | The following is a summary of stock option activity during fiscal 2025:
| Shares Under Option |  | Weighted-Average Exercise Prices |  | Aggregate Intrinsic Value (in millions) |  | Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2024 | 4,409,392 |  |  | $ | 24.06 |  |  | $ | 23.0 |  |  | 7.8
Granted | 9,905 |  |  | 21.90 |  |  |  |  |
Exercised | (95,901) |  |  | 20.61 |  |  |  |  |
Forfeited or expired | (66,467) |  |  | 20.00 |  |  |  |  |
Outstanding at May 31, 2025 | 4,256,929 |  |  | 24.19 |  |  | — |  |  | 6.5
Exercisable at end of period | 2,644,945 |  |  | $ | 25.92 |  |  | $ | — |  |  | 5.6
Schedule of Restricted Stock Unit (RSU) Activity | The following is a summary of restricted stock unit activity during fiscal 2025:
| Share Units |  | Weighted Average Grant-Date Fair Value |  | Aggregate Intrinsic Value (in millions) |  | Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2024 | 930,647 |  |  | $ | 21.92 |  |  | $ | 25.9 |  |  | 1.2
Granted | 1,054,335 |  |  | 28.24 |  |  |  |  |
Forfeited | (75,878) |  |  | 22.60 |  |  |  |  |
Released | (337,906) |  |  | 26.02 |  |  |  |  |
Outstanding at May 31, 2025 | 1,571,198 |  |  | $ | 25.22 |  |  | $ | 26.7 |  |  | 0.7
Schedule of Performance-based Stock Units (PSU) Activity | The following is a summary of performance stock unit activity during fiscal 2025:
| Share Units |  | Weighted Average Grant-Date Fair Value |  | Aggregate Intrinsic Value (in millions) |  | Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2024 | 442,353 |  |  | $ | 23.91 |  |  | $ | 12.2 |  |  | 1.0
Granted | 355,205 |  |  | 28.04 |  |  |  |  |
Forfeited | (89,709) |  |  | 25.16 |  |  |  |  |
Released | (79,937) |  |  | 30.34 |  |  |  |  |
Outstanding at May 31, 2025 | 627,912 |  |  | $ | 25.29 |  |  | $ | 10.6 |  |  | 0.9
Schedule of Director Share Based Compensation | The following amounts and types of Company equity were issued to non-employee directors during the fiscal years indicated:
| 2025 |  | 2024 |  | 2023
Shares of common stock | 48,387 |  |  | 31,379 |  |  | 27,785 |
Deferred stock units pursuant to the Director Plan | 22,532 |  |  | 16,490 |  |  | 25,230 |
Stock options | 9,905 |  |  | 8,377 |  |  | — |

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